It not wish to recharter the 2nd BUS because

It was no secret that former President Andrew Jackson did not like the idea of an American banking system. It is also ironic that a man who hated the idea of the banking system is represented on our $20 bills. Andrew Jackson’s hatred for national banks is known today as the Bank War. Jackson hated banks because he felt that the government was too involved over state rights, and resented the bank’s lack of funding for expansion into the unsettled Western territories. (docs.google.com) Being a man from the South, he and many congressmen argued that the bank was unconstitutional, possessed a monopoly on money, and favored the commercial North over the agricultural South. (gilderlehrman.org)  Jackson’s decision to not recharter the Second Bank of the United States would plant a seed that would lead to the Panic of 1837 that would crash Northern industrial economy. (ushistory.org) Jackson’s decision to not recharter, the Panic of 1837, and southern conflict over the move would play into how Jackson’s Bank War would be a cause of the Civil War.First of all, Jackson’s Bank War, or just simply the Bank War, was President Andrew Jackson’s political struggle over the issue of rechartering the Second Bank of the United States, or 2nd BUS. Jackson did not wish to recharter the 2nd BUS because he felt that it oppressed the common man from a hard-working background, rather than groups of elites. Jackson ordered Secretary of the Treasury Roger Taney to stop putting federal money in the Second Bank of the United States, and instead into local state banks. (quizlet.com) After Jackson ordered this, Nicholas Biddle set out to counter attack Jackson’s orders by calling in loans and basically ruined the bank’s credit. (history.com) This action would send Northern industrial economy into ruin that would trigger the Panic of 1837.The Panic of 1837 was a major recession that killed jobs, raised prices, and was one of the result of Jackson’s decision not to recharter the bank. (wikipedia.org)

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